CHICAGO (Reuters) – Average farmland prices in the Plains states jumped as much as 25 percent in the third quarter, setting new highs as demand remained strong, the Kansas City Federal Reserve said on Thursday.
But the rate of gains slowed down from the torrid pace of the past two years, the Kansas City Fed’s quarterly survey said.
MILWAUKEE (Reuters) – The Congress could delay passage of a new five-year farm bill until spring planting given the full plate of legislation needed after the election to avoid a fiscal cliff with its mandatory U.S. budget cuts, a top farm policy expert said on Monday.
“My prediction is that we will get a farm bill by April 2013. It will look very close to the Senate version,” Barry Flinchbaugh, a Kansas State University agricultural economist who advises legislators on shaping U.S. farm bills, told an agricultural bankers meeting.
CHICAGO (Reuters) – The merger of wheat futures markets in Chicago and Kansas City should boost trading volumes and exchange profits, but grain traders are worried about the effect on hedging and cash market pricing for hard red winter wheat.
“Hedgers and users of the Kansas City Board of Trade hard red winter wheat futures market recognize it and use it for what it is, the pricing mechanism for bread wheat. I don’t see that changing in the near future. But longer term, like everything in our industry, it may get interesting,” said Justin Gilpin, chief executive officer of the Kansas Wheat Commission, which represents growers of hard red winter wheat (HRW), the grain that’s traded in Kansas City.
CHICAGO, Oct 16 (Reuters) – Commodities regulators on
Tuesday postponed a decision on a record keeping rule for the
U.S. grain industry that has met
opposition from merchants and traders who say its
requirements to tape conversations will prove cumbersome and
(Reuters) – Agribusiness giant Cargill Inc CARG.UL said on Thursday earnings recovered strongly after its worst quarter in two decades and expressed confidence it will handle continuing fall out from historic droughts in the U.S. and other nations.
Minneapolis-based Cargill, one of the world’s largest privately held corporations and a bellwether of world commodity markets, said net earnings totaled $975 million for the first quarter of fiscal 2013 ended August 31, more than quadruple the $236 million earned in the same quarter a year ago.
Oct 11 (Reuters) – Agribusiness giant Cargill Inc
said on Thursday quarterly earnings rose strongly, boosted by
all five main business segments, but cautioned the impact of the
worst U.S. drought in a half century was still unfolding.
Minneapolis-based Cargill, one of the world’s largest
privately held corporations, reported net earnings of $975
million for the first quarter of fiscal 2013 ended Aug. 31,
versus $236 million for the same quarter a year ago.
CHICAGO (Reuters) – Expiration of U.S. farm law on October 1, shutting off dairy supports and putting 2013 crop subsidies in limbo, will cause pain for some farmers and frustration for many but programs like food stamps and crop insurance will roll on, analysts said.
Government funding is assured through March 2013 for many programs based on a July deal to extend budget authority reached by feuding Republicans and Democrats ahead of the November elections.
CHICAGO, Sept 12 (Reuters) – The Farm Credit System, the
largest single lender to U.S. agriculture, said on Wednesday it
would meet the borrowing needs of rural America and stand by its
customers challenged by the worst drought in more than half a
“The Farm Credit System remains well positioned to meet the
borrowing needs of rural America, notwithstanding the difficult
conditions brought on by the drought of 2012,” the presidents of
the FCS’s four regional banks said in a joint statement.
CHICAGO, Aug 1 (Reuters) – The U.S. Farm Credit System, a
government-sponsored enterprise and the single largest lender to
U.S. agriculture, said on Wednesday second-quarter net earnings
rose 8.7 percent, reflecting a strong agricultural economy.
The System, which funds its lending to farmers and
agribusinesses by issuing debt securities to domestic and
foreign investors, earned $1.067 billion, compared with $982
million a year earlier.
CHICAGO, July 31 (Reuters) – Global commodities trading
giant Cargill Inc said on Tuesday a group of employees
at its vegetable oils trading desk in Singapore had left the
company but daily business operations remained unaffected.
“We have had employee changes and departures in Cargill’s
oil palm and vegetable oil trading operations in Singapore. No
other Cargill businesses are affected. We are fortunate to have
strong trading and operations teams across Cargill’s global
businesses that will be able to step in and continue our
operations,” Cargill said in a statement.